9 Best HCM Software of 2023 (Ranked and Compared)

It is 2023, and Human Capital Management (HCM) software has come a long way. Now, more than ever, businesses have access to powerful tools that make managing their workforce more straightforward and efficient.

But with so many options available today, knowing which HCM software is the best for your business can be challenging. That’s why we have compiled this list of the nine best HCM software solutions of 2023, ranked and compared.

We looked at various criteria to determine our rankings, from cost-effectiveness and ease of use to features and customer support.

What is HCM Software?

HCM stands for human capital management software, an all-in-one human resource management system that streamlines and automates mundane HR processes such as onboarding, payroll, time tracking, training, performance management, and employee engagement.

With HCM software, businesses can easily manage employee records, track attendance and leave time, analyze workforce analytics, conduct surveys, and more.

The 9 Best HCM Software of 2023:

1. SAP SuccessFactors
2. BambooHR
3. ADP
4. Workday
5. UltiPro
6. Lano
7. Bambee
8. Gusto
9. Rippling

SAP SuccessFactors

SAP SuccessFactors is a cloud-based Human Capital Management (HCM) suite that provides essential tools for optimizing the employee experience and workforce planning. With its full core HR, payroll, talent management, and analytics capabilities, SAP SuccessFactors empowers enterprises to drive digital transformation initiatives that deliver impactful results.

SuccessFactors is designed to help organizations increase employee engagement, streamline administrative tasks, gain visibility into their workforce data, and create a workplace that’s tailored to the needs of both employers and employees. Through its intuitive user interface and mobile-friendly design, users can access an array of features such as in-app notifications, real-time Feedback and analytics, employee goal tracking, and performance management.

SAP SuccessFactors also provides comprehensive reporting and analytics capabilities, allowing companies to gain valuable insights into their workforce. This information can be used to make more informed decisions about the hiring process, training programs, compensation plans, and other aspects of their business.

Price

SAP SuccessFactors starts at $84.53 per employee/year.

Key Features

• Employee onboarding
• Performance management
• Reporting and analytics
• Time tracking
• Training
• Payroll
• Mobile-friendly
• Goal tracking
• Employee engagement

BambooHR

BambooHR is an all-in-one HR platform that provides everything you need to manage your people efficiently and effectively. It brings together best-in-class solutions, capabilities, and integrations all in one place. With BambooHR, you can manage important tasks, workflows, and data from the same source.

It also has a free mobile app for iPhone and Android that syncs in real-time with your Bamboo account so that you can manage tasks on the go. By consolidating your HR software into a single platform, you can focus your energy on what matters most—growing your people, improving the employee experience, and taking your business forward. With BambooHR, you have all the tools to ensure your organization is on track for success.

Price

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Key Features

• Onboarding
• Time tracking
• Reporting and Analytics
• Employee Database
• Performance Management
• Leave Management
• Payroll Integration
• Mobile App

ADP

ADP Vantage HCM is an all-in-one Human Capital Management (HCM) software solution created by leading payroll provider ADP. It provides comprehensive tools for managing HR analytics, human resources management, benefits administration, payroll services, time and attendance tracking, and talent management.

The software is designed to be scalable, so you can choose a package that is tailored to the size of your enterprise and the number of staff. All data is fed into your dashboard in real-time, allowing you to quickly create diagrams and charts based on these reports for better decision-making.

ADP Vantage HCM comes with an extensive library of resources and support, with the option of a free demo before any financial commitment is required. It also provides ongoing expert advice, so your business can reach its full potential no matter where you are in the human capital management journey. With ADP Vantage HCM, you can be confident that your HR software solutions are current and reliable.

Price

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Key Features

• HR Analytics
• Benefits Administration
• Payroll Services
• Time and Attendance Tracking
• Talent Management
• Reporting and Analytics
• Employee Database

Workday

Workday is one of the top-rated HCM software solutions on the market. It helps managers and HR teams to gain more visibility into all workforce operations and to prepare organizations for growth and expansion. The system enables users to build strong teams of employees by finding skilled workers through talent searching and job profiles.

Organizational charts and modeling features allow users to structure and visualize the entire organization, manage employees and contingent labor, configure workflows, and define business processes. The HR software also allows users to manage time-off and absences through a self-service employee interface that includes time-off requests and reporting, time-tracking, and time-off rules automation.

Recruiting tools are also available to help organizations set up compatible career sites with mobile devices and integrate them into social media platforms such as LinkedIn.

Price

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Key Features

• Talent Searching
• Organizational Charts
• Workflows and Business Processes
• Time Tracking
• Absence Management
• Recruiting Tools
• Reporting and Analytics

UltiPro

UltiPro is an all-in-one Human Capital Management (HCM) system that offers end-to-end solutions for various workforce needs. With UltiPro, you can easily manage employee onboarding and offboarding, payroll and benefits, time and attendance tracking, succession planning, analytics, reporting, and more.

The cloud-based system was designed to make all your HR processes more straightforward and efficient, giving you more time to focus on strategic workforce initiatives. The intuitive user interface allows you to access information quickly and accurately, while the detailed reporting offers valuable insights into your employee data.

UltiPro also offers unique features like its Talent Marketplace, which allows you to post open jobs and attract top talent. Additionally, the system comes with a mobile app that makes it easy for your employees to access HR data on the go.

Price

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Key Features

• Onboarding and Offboarding
• Payroll and Benefits
• Time and Attendance Tracking
• Succession Planning
• Analytics and Reporting
• Talent Marketplace
• Mobile App Accessibility

Lano

Lano is a comprehensive HCM software that helps businesses and freelancers manage invoices, payments, contacts, budgets, and to-do lists. Its intuitive user interface makes it easy for users to create customized invoices with integrated templates. The application enables prompt payment reminders and allows freelance workers to send invoices directly to the business.

It is an excellent choice for employment agencies, self-employed workers, and small businesses as it provides budget planning tools and records working hours as the basis for invoicing. Additionally, its timesheet feature helps users easily track their tasks and structure their work processes more effectively.

Lano is an excellent choice for businesses and freelancers looking for reliable and efficient HCM software. Its comprehensive features and intuitive interface make it one of the best HCM software in 2023.

Price

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Key Features

• Invoicing
• Payment Reminders
• Budget Planning
• Time Tracking
• Task Management
• Integrated Templates
• Reporting

Bambee

Bambee is a leading HCM software provider dedicated to providing small businesses with expert guidance to stay HR compliant.

The Bambee platform also offers a robust suite of HR tools to ensure you stay compliant year-round. Automated HR audits and preventative worker training are just the beginning—Bambee also automatically prompts for 2-way Feedback, securely stores your sensitive business files, and assists with worker terminations and onboarding.

By leveraging Bambee’s comprehensive HCM software platform, you can rest assured that your business will remain compliant and protected—leaving you to focus on growing your business without worrying about HR risk. With Bambee, you’ll have the best HCM software at your fingertips. Check out their services today!

Price

Bambee starts at $99 per employee/month.

Key Features

• HR Audits
• Worker Training
• 2-way Feedback
• Secure File Storage
• Onboarding and Termination Assistance

Gusto

Gusto’s intuitive platform is designed to make even the most complex tasks easy. You can set up payroll with just a few clicks, and it’ll compute taxes correctly every time. Plus, Gusto integrates seamlessly with leading accounting software like Xero and QuickBooks.

Gusto also offers comprehensive employee engagement tools such as PTO tracking, rewards & recognition, and feedback surveys.

Staff members can also access their profiles for a complete view of their benefits, salary, and performance reviews — all in one place.

If that’s not enough to convince you, consider their excellent customer service. With Gusto’s helpful support team, you always have someone to turn to.

Price

Gusto starts at $6/user per month.

Key Features

• Payroll
• Benefits
• PTO Tracking
• Rewards & Recognition
• Feedback Surveys
• Integrations
• Employee Profiles

Rippling

Rippling is the perfect solution for businesses looking to streamline and automate their HR processes. It offers features such as automatic payroll setup, benefits management, corporate card integration, computer setup, and more—all within 90 seconds of hiring a new employee! The platform also allows for easy integrations with third-party apps like Slack and Microsoft 365, making it even easier to get up and running with a new hire.

Not only does Rippling make the onboarding process more straightforward, but it also helps businesses manage their workforce more efficiently overall. The platform’s HR dashboard gives users real-time insight into employee data such as performance metrics, time off requests, and compliance information.

With Rippling, businesses can easily manage their entire workforce in one place while saving time and money. It’s no wonder why it’s one of the best HCM software solutions of 2023!

Price

Rippling starts at $8/user per month.

Key Features

• Payroll
• Benefits
• Computer Setup
• Integrations
• HR Dashboard
• Time Off Tracking

Final Thought!

When selecting the best HCM software for your business, you must do your due diligence to make an informed decision. Comparing different platforms will help you identify the right features and pricing for your business. Several great HCM software solutions on the market in 2023 can help you manage every aspect of your business more efficiently. With these tools at your disposal, you can have confidence knowing that you have the best HCM software to keep your organization compliant and running smoothly.

Good luck

FAQs

What is the best HCM software for workforce management?

The best HCM software for workforce management depends on your specific needs. However, several solutions stand out from the competition in terms of their features and capabilities.

What is the best HR management software?

The best HR Management software will depend on your specific needs. However, some of the top-rated HR management software solutions include Sage People, BambooHR, and Oracle HCM Cloud.

What is the best payroll management system?

The best payroll management system for you may depend upon your company’s size and budget. Some popular payroll management systems include ADP Workforce Now, Zenefits Payroll, Gusto Payroll, and QuickBooks Online Payroll.

How can employee management be improved with an HCM system?

An HCM system can help improve employee management by streamlining processes such as onboarding/offboarding, time tracking and scheduling, performance reviews and goal tracking, and more.

What is included in compensation management?

Compensation management includes setting up pay structures, monitoring employee compensation levels relative to the market, managing incentives and bonuses, and managing raises and other adjustments.